Sedgwick's Curator v. Taylor

Citations

• 84 Va. 820
• 6 S.E. 226
• 1888 Va. LEXIS 150

Syllabus

<p>1. Tkusts—Beneficiaries— Construction—Estoppel.—Trust deed directs trustee to permit wife to “ have free and undisturbed possession and use of the land, taking the rents and profits to her own use during her life,” and after her death to hold the property for benefit of her children. It also authorizes trustee to convert the land into money, “ to be held as aforesaid”:</p> <p>Held :</p> <p>The wife is entitled to only the income though the land has been converted into money. But where the corpus has been turned over to her, she cannot maintain an action against trustee for income after she has expended the corpus.</p> <p>2. Idem—Acquiescence by remainder-man—Proviso.—Remainder-man in such •trust may acquiesce in such turning over of the corpus to life-tenant, and he is bound thereby, unless it appears that at the time thereof he was uneducated, just of age, dependent upon the trustee, and that the trust accounts were uncertain and full knowledge in him of all the circumstances was not clearly shown.</p> <p>3. Idem—Judicious use of corpus—Burden of proof.—Under such trust deed trustee must show that the use of the corpus by' life-tenant is plainly such a judicious use thereof as the court will sanction.</p> <p>4. Idem—Remainder-man may sue.—Under such trust deed where the corpus has been expended by trustee, remainder-man may, whilst life-tenant is living, maintain his suit for the protection of his interest.</p> <p>5. Idem—Staleness.—Under such trust deed whilst life-tenant is living, remainder-man’s interests being contingent, and his right to demand payment of the principal fund not having attached, the objection of staleness will not lie to his claim., Effinger v. Hall, 81 Va., 94.</p>